Top 10 business headlines: Angel tax relief, SIP closure ratio, and more

Here are the top 10 business stories that made news on Tuesday

1. Angel tax relief for startups: Funding cap for exemption raised to Rs 25 cr

Bowing to sustained pressure from start-ups and venture capital funds over the so-called angel tax, the government on Tuesday eased tax norms for new businesses in a bid to boost investment and job creation. Click here to read more.

2. Flipkart's Sachin Bansal may join Ola board after Rs 650-crore investment

Ride-hailing firm Ola on Tuesday confirmed an investment of Rs 650 crore ($92 million) from Flipkart co-founder Sachin Bansal. This investment, which has been made by Bansal in his personal capacity as an investor. Read on...

3. GIC, Mitsubishi Corp likely to pick 25-30% stake in GMR Airports

GMR Airports, a subsidiary of GMR Infrastructure through which it has stakes in Delhi, Hyderabad and Cebu (the Philippines) airports, among others, is in the final stage of discussion to sell 25 to 30 per cent of its holdings to Singapore’s GIC and Mitsubishi Corporation of Japan. Read on...

4. WTO pegs global trade at 9-year low; India exports may take hit

An indicator released by the World Trade Organisation (WTO) to gauge global trade for January-March, 2019, has hit a nine-year low. Analysts say if global trade slows down, exports from India may face repercussions. Read on...

5. SIP closure ratio at 18-month high, Dec applications slip to 750,000

The mutual fund (MF) industry’s systematic investment plan (SIP), a monthly investment scheme, seems to be losing favour among retail investors. The applications for fresh SIPs in December slipped to 750,000, down by a third as compared to August. Read more here.

6. Planning to invest in mutual funds? Avoid these common mistakes

Reports suggest that inflows into equity mutual funds, which saw huge investor interest during the past few years due to rising stock indices, have fallen for the third straight month in January 2019. Read on...

7. YES Bank denies wrongdoing, says disclosure in line with guidelines

Private sector lender YES Bank on Tuesday denied any wrongdoing stating that the ‘zero divergence’ disclosure was done to comply with the listing regulations and to ensure information symmetry. Read more here.

8. Consumers demand laws to curb fake products menace in e-commerce policy

Stating that the issue of counterfeit product is a big hindrance in the growth of online commerce, consumers have demanded stringent laws and action against sellers selling fake products online in the e-commerce policy, according to a report by the Moneycontrol.

9. RJio goes on offensive to combat ‘tower scam’

After unearthing a mobile tower scam, which appears to be rampant across the country, Reliance Jio Infocomm (RJio) has decided to contain the menace, as reported by the BusinessLine.

10. Machine learning is the biggest disruptive tech: AMD CTO Mark Papermaster

In early January, Advanced Micro Devices Inc. (AMD) unveiled next generation chips that are more efficient and can boost performance at lower power, according to a report by the Livemint.